KeyCorp Cuts Primoris Services (NYSE:PRIM) Price Target to $137.00

Key Points

• KeyCorp cut its price target on Primoris from $179 to $137 while maintaining an Overweight rating, implying roughly a 25.8% upside, and the street consensus target sits at about $163.33.
• Primoris missed Q1 estimates (EPS $0.59 vs. $0.87 expected; revenue ~$1.56B vs. ~$1.7B), with revenue down ~5.4% YoY and weakened operating cash flow, though management issued FY2026 EPS guidance of 4.80–5.00.
• The earnings miss spurred heavy share volatility and several investor lawsuits/investigations, amplifying legal and execution risk for the company.

Primoris Services (NYSE:PRIM - Get Free Report) had its price target reduced by KeyCorp from $179.00 to $137.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. KeyCorp's price objective points to a potential upside of 25.79% from the stock's previous close.

A number of other research firms have also commented on PRIM. JPMorgan Chase & Co. lifted their target price on shares of Primoris Services from $165.00 to $171.00 and gave the stock a "neutral" rating in a report on Wednesday, April 1st. UBS Group increased their price target on Primoris Services from $176.00 to $212.00 and gave the company a "buy" rating in a research note on Monday. Wall Street Zen cut Primoris Services from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. Wells Fargo & Company upped their price objective on Primoris Services from $138.00 to $168.00 and gave the company an "equal weight" rating in a report on Thursday, February 26th. Finally, Wolfe Research assumed coverage on Primoris Services in a research note on Thursday, April 9th. They issued an "outperform" rating and a $183.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $163.33.

Primoris Services Price Performance

Shares of NYSE PRIM traded up $7.68 during mid-day trading on Thursday, hitting $108.91. The company's stock had a trading volume of 1,003,143 shares, compared to its average volume of 942,350. The stock has a market capitalization of $5.91 billion, a PE ratio of 23.98 and a beta of 1.50. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.24. Primoris Services has a one year low of $67.15 and a one year high of $205.50. The company has a fifty day simple moving average of $151.52.

Primoris Services (NYSE:PRIM - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.59 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.28). Primoris Services had a return on equity of 16.66% and a net margin of 3.31%.The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the firm earned $0.98 earnings per share. The company's quarterly revenue was down 5.4% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. On average, sell-side analysts predict that Primoris Services will post 5.73 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. lifted its holdings in shares of Primoris Services by 224.2% during the 3rd quarter. SBI Securities Co. Ltd. now owns 214 shares of the company's stock valued at $29,000 after purchasing an additional 148 shares in the last quarter. Root Financial Partners LLC increased its stake in Primoris Services by 43.1% during the 1st quarter. Root Financial Partners LLC now owns 229 shares of the company's stock worth $33,000 after purchasing an additional 69 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in Primoris Services during the 3rd quarter worth approximately $37,000. Harbour Investments Inc. acquired a new stake in Primoris Services during the 4th quarter worth approximately $33,000. Finally, Blue Bell Private Wealth Management LLC acquired a new stake in Primoris Services during the 3rd quarter worth approximately $37,000. 91.82% of the stock is owned by institutional investors and hedge funds.

Key Primoris Services News

Here are the key news stories impacting Primoris Services this week:

• Positive Sentiment: Company issued FY‑2026 EPS guidance (4.80–5.00), giving investors a full‑year outlook from management. Q1 Results / Guidance
• Neutral Sentiment: Small quarterly dividend remains in place (annualized yield ~0.3%), a modest cash-return signal to holders.
• Neutral Sentiment: Discussion about directors’ locked stock awards and capital allocation changes — worth monitoring for governance/capital‑allocation implications. Locked-Up Awards Article
• Negative Sentiment: Q1 results missed expectations: EPS $0.59 vs. consensus ~$0.87 and revenue roughly $1.56B vs. estimates near $1.7B; revenue down ~5.4% YoY and margins compressed — primary driver of the selloff. Earnings Release / Transcript
• Negative Sentiment: Profitability and cash flow weakness: gross profit and operating profit contracted materially, and operating cash flow swung to a large outflow (reported by market summaries), increasing near‑term liquidity and execution concerns. QuiverQuant Summary
• Negative Sentiment: Investor lawsuits / investigations: multiple law firms (Ademi LLP, Johnson Fistel, Block & Leviton and others) have launched inquiries into possible securities claims tied to the company’s statements and results — this raises legal risk and adds selling pressure. Ademi LLP Investigation Johnson Fistel Notice
• Negative Sentiment: Heavy market reaction and coverage: multiple outlets report sharp share-price declines (large intraday drops reported), amplifying downside volatility and prompting more sell orders. Globe and Mail Coverage MSN Coverage

About Primoris Services

Primoris Services Corporation, a specialty contractor company, provides a range of construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. It operates through three segments: Utilities, Energy/Renewables, and Pipeline Services. The Utilities segment offers installation and maintenance services for new and existing natural gas distribution systems, electric utility distribution and transmission systems, and communications systems. The Energy/Renewables segment provides a range of services, including engineering, procurement, and construction, as well as retrofits, highway and bridge construction, demolition, site work, soil stabilization, mass excavation, flood control, upgrades, repairs, outages, and maintenance services to renewable energy and energy storage, renewable fuels, petroleum, refining, and petrochemical industries, as well as state departments of transportation.

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